Although online retail has been growing the past several years, a recent study states that only 39% of supply chain respondents have been utilizing an omnichannel platform. 55% still manage their logistics manually using pen-and-paper.
In order to address the operational gaps, retailers can use Order Management Systems (OMS) to help centralize their orders across multiple sales channels, making order management much simpler and easier.
Defining an Order Management System
An OMS is a centralized platform that consolidates your orders from all your sales channels (both brick-and-mortar stores & e-commerce stores) on top of tracking sales, inventory, and fulfillment progress.
Integrating an OMS will allow you to automate your entire order fulfillment process. Processing, picking, and shipping orders will all be connected, resulting in a more efficient and condensed supply chain.
Features To Look Out For When Picking an OMS
1. Omnichannel Capability
Consider these two statistics: e-commerce is projected to be responsible of 22% of global sales by 2023, and 54% of customers are likely to search for a product online and buy in-store.
The future for retailers depends on their capability of serving a consistent experience across online & offline.
This means that every OMS you consider integrating into your business has to have omnichannel capabilities, because although e-commerce sales are likely to grow, a large portion of customers expect omnichannel capabilities from brands regardless if they prefer online to offline or vice versa.
2. Flexible Integrations
Since an OMS requires integrations with various parts of your business, you have to think carefully about how your preferred OMS can interact with your current systems.
Lack of integrations will defeat the point of utilizing an OMS because instead of streamlining your supply chain process, you’ll be creating new bottlenecks due to the disconnected structure of your systems.
This will hamper the speed of your order fulfillment, and processes will require more time & resources than they should compared to fully integrated OMS.
3. Reports & Analytics
Aside from automating and simplifying your supply chain process, a good OMS will also give you a detailed picture of the performances of your orders.
Look into an OMS that can offer detailed reports & analytics, allowing you to both measure your best-selling products and consolidate customer data. These reports can then be used to serve a variety of purposes such as creating accurate performance forecasts or designing more personalized marketing campaigns.
4. Consistent Service
Often overlooked, picking an OMS vendor also involves taking into account how well they can address any concerns you may have.
Consider a vendor that takes you through the whole process; from guiding you through the product, assisting you during implementation, training your team for onboarding, to checking up on you throughout post-onboarding.
Treat the collaboration with your OMS vendor as a long-term relationship that involves constant communication.
No time to read? Here’s a Quick Recap:
1. Order Management System (OMS): helps you automate and streamline your order processing, packing, & fulfillment operations.
2. How to pick a good OMS? Look for these 4 things:
– Omnichannel Capability
– Flexible Integration
– Reports & Analytics
– Consistent Service
Looking to make integrations to streamline your operations? Try Omnirio out today!
Book a call with us and we’ll help you manage your business with ease!
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